A pop at the market open faded for Wall Street as the U.S. dollar firmed and investors pared back their bets on a 2010 rally. How should you be positioned? Brian Belski, chief investment strategist at Oppenheimer, shared his outlook with CNBC.
Belski described the path he believes markets will take:
“Over the short term, higher—and long term, higher."
“But," he added, "we are going to be volatile this year and markets are not linear for long.”
Belski said the fundamental maturing of both the economy and the stock market will likely drive some volatility and cause indecision among investors, especially as the dollar continues to strengthen and international market volatility increases.
Overall, "the rate of growth in the U.S. is going to be greater than the rest of the world,” he said.
- Watch Belski's Previous Appearance on CNBC (Dec. 21, 2009)
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No immediate information was available for Belski or his firm.